Van ECK Associates Corp Reduces Position in The Toronto-Dominion Bank (NYSE:TD)

Van ECK Associates Corp decreased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,581 shares of the bank’s stock after selling 35,189 shares during the quarter. Van ECK Associates Corp’s holdings in Toronto-Dominion Bank were worth $14,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Toronto-Dominion Bank by 1.8% during the third quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock valued at $4,361,876,000 after purchasing an additional 1,303,730 shares during the last quarter. CIBC Asset Management Inc raised its stake in Toronto-Dominion Bank by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 17,918,370 shares of the bank’s stock valued at $1,082,848,000 after buying an additional 76,129 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Toronto-Dominion Bank by 20.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock valued at $1,039,691,000 after buying an additional 2,870,662 shares during the period. Toronto Dominion Bank boosted its stake in shares of Toronto-Dominion Bank by 0.9% in the 3rd quarter. Toronto Dominion Bank now owns 14,630,614 shares of the bank’s stock worth $881,641,000 after buying an additional 126,116 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Toronto-Dominion Bank by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,171,750 shares of the bank’s stock worth $673,210,000 after acquiring an additional 342,932 shares during the period. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Barclays started coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.33.

Toronto-Dominion Bank Stock Performance

Shares of TD opened at $58.69 on Thursday. The business has a 50-day simple moving average of $59.31 and a two-hundred day simple moving average of $60.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The Toronto-Dominion Bank has a 52 week low of $54.69 and a 52 week high of $66.15. The stock has a market cap of $103.47 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.83 and a beta of 0.85.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The company had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. On average, analysts expect that The Toronto-Dominion Bank will post 5.85 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.7519 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.12%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 30.56%.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.